Visiongain Publishes Military Electro-Optical and Infrared (EO/IR) Systems Market Report 2021-2031
10 November 2020
Visiongain has published a new report on Military Electro-Optical and Infrared (EO/IR) Systems Market Report 2021-2031: Forecasts by System (Electronic Support Measure, Targeting System, Imaging System), by Wavelength (Ultraviolet, Near Infrared, Short Wavelength Infrared, Medium Wavelength Infrared, Long Wavelength Infrared), by Platform (Air, Land, Naval), by Sensor Type (Staring Sensor, Scanning Sensor), by Imaging (Multispectral, Hyperspectral) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global Military Electro-Optics Infrared System market was valued at US$ xx billion in 2021 and is projected to reach at a market value of US$ xx billion by 2031. The growth of this market can be attributed to various factors such as focus on improving battlespace awareness, technological advancements in EO/IR Systems and increasing demand for unmanned vehicles. The military sector in the past few years have been focusing on ways to enhance battlefield operations such as providing military troops with advanced tactical equipment and equipping fighter aircraft with advanced mission and tactical systems. The deployment of electro-optic infrared systems enhances the situational awareness of the battlefield. Therefore, the focus on improving battlespace awareness is one of the factors that may contribute to the growth of the military electro-optics infrared system market.
There have been rapid advances in EO/IR imaging technology which are driven by developments in focal plane array technology and nanostructures. These technological developments have led to significant increase in performance, availability of the various imaging systems and subsystems. Such Technological Advancements in EO/IR Systems is anticipated to further the growth of military electro-optics infrared system market.
UAVs have been witnessing significant growth in the past few years as they can be deployed for various applications such as government, commercial, and military. Military applications include intelligence, surveillance, and reconnaissance (ISR), combat operations, and battle damage management. The increasing demand of unmanned vehicles for military applications is expected to propel the military electro-optics infrared system market.
COVID-19 Impact on Military Electro-Optics Infrared System Market
The COVID-19 outbreak has created a huge impact across the globe. Due to this pandemic, there is a possibility that the military expenditure allotted by various government agencies such as the U.S. Department of Defense (DoD) and U.K. Ministry of Dense may decrease as they will be investing more on developing medical capabilities to tackle the on-going pandemic. In addition to this, it is expected that most military programs will be delayed due to this pandemic.
The players operating in the military sector are continuously developing advance imaging systems to enhance military capabilities. Some of the company’s profiled in this report include BAE Systems PLC., Northrop Grumman Corporation, Lockheed Martin Corporation, Thales Group, Saab Group, Elbit Systems Ltd., L-3 Communications Holdings, Inc., The Raytheon Company, Rockwell Collins, Inc. and Rheinmetall AG.
• In March 2019, Raytheon Technologies received a contract from the U.S. Army to build surveillance towers equipped with an electro-optical/infrared camera technology to an unnamed customer in the Middle East.
• In March 2019, ArgenTech Solutions Inc. received a contract worth USD 45 million from the Naval Surface Warfare Center Crane Electro-Optic Technology Division to procure full-time-equivalents for field service representative support for Gimbaled Sensor Systems.
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